BMO Capital Markets Forecasts Strong Price Appreciation for Black Diamond Group (TSE:BDI) Stock

Black Diamond Group (TSE:BDI) had its price objective lifted by research analysts at BMO Capital Markets from C$18.00 to C$20.00 in a research report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 19.83% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Black Diamond Group from C$13.50 to C$17.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Acumen Capital lifted their price target on Black Diamond Group from C$14.50 to C$17.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$18.00.

Black Diamond Group Stock Up 4.6%

Shares of BDI traded up C$0.73 during midday trading on Friday, reaching C$16.69. 79,008 shares of the stock were exchanged, compared to its average volume of 166,986. The company has a market capitalization of C$1.12 billion, a P/E ratio of 28.78 and a beta of 0.85. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 88.46. Black Diamond Group has a 52 week low of C$7.60 and a 52 week high of C$16.73. The company’s 50 day moving average is C$14.50 and its two-hundred day moving average is C$13.23.

Black Diamond Group (TSE:BDI) last released its quarterly earnings data on Thursday, October 30th. The company reported C$0.18 earnings per share for the quarter. The company had revenue of C$105.32 million during the quarter. Black Diamond Group had a net margin of 6.46% and a return on equity of 8.11%. On average, sell-side analysts anticipate that Black Diamond Group will post 0.5349233 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Wagemakers sold 20,000 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of C$14.10, for a total transaction of C$282,000.00. Following the sale, the director owned 543,580 shares in the company, valued at approximately C$7,664,478. The trade was a 3.55% decrease in their ownership of the stock. Corporate insiders own 23.83% of the company’s stock.

Black Diamond Group Company Profile

Black Diamond Group Ltd rents and sells space rental solutions and modular workforce accommodations to business customers in Canada, the United States and Australia. The company also provides specialized field rentals to the oil and gas industries of Canada and the United States. Besides, Black Diamond Group provides turnkey lodging services, as well as a host of related services that include transportation, installation, dismantling, repairs, maintenance, and ancillary field equipment rentals. From its locations, the company serves multiple sectors including oil and gas, mining, power, construction, engineering, military, government, and education.